1. 1.2.10 Unit content Students should be able to:
explain why consumers may not behave rationally:
influence of other people’s behaviour
the importance of habitual behaviour
consumer weakness at computation

2. What do economists assume about consumers?
Consumers are _________ and they:
However, behavioural economics looks at why this may not be true.

3. Do consumers always act rationally?

4. What is the paradox of choice?
Jam experiment
What is the paradox of choice?

5. Microeconomics Topic 2c: The Allocation of Resources - demand and supply in a market
Irrational behaviour
Often it is the failure to forecast future feelings correctly which results in consumers not maximising _________
Consumers tend to ______________ the addictive nature of some consumption decision and they tend to ____________ impact of a present consumption decision.

6. Microeconomics Topic 2c: The Allocation of Resources - demand and supply in a market
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